Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.
Institutional holdings are being reconciled with SEC filings. Holder totals and changes may be incomplete until reconciliation finishes.
Holders:6
Total Value:$25,319,816
Total Shares:306,721
Institutional Ownership Trend
27 quarters
Holder Concentration
Across 6 13F filers
· Δ vs Jun 30, 2026
Top Holder
71.0%
+51.3 pts
Top 5
99.9%
+43.9 pts
Top 10
100.0%
+23.8 pts
HHI
5,417
Highly concentrated+4,469
Who Holds FNGS
Last 8 quarters through Sep 30, 2026 (filing window open)
Each kind of 13F filer's share of the common shares 13F filers report. Holder type comes from regulatory
records, never the filer's name; style, turnover and horizon are measured from each filer's own 13F book.
The quarter selector does not change this card.
Jun 30, 2026, the newest closed quarter:
38 filers,
like-for-like change -17.5%; actively managed books -17.7%; index-like books +5.5%.
Holder type
Share
Filers
Change
New
Exited
Registered adviser
38.9%
20
-32.5%
3
4
Bank
1.3%
4
-11.3%
0
1
Holding company
20.3%
3
-5.7%
0
0
Broker-dealer
0.0%
0
-100.0%
0
1
Adviser
0.0%
0
—
0
0
Exempt adviser
0.0%
0
—
0
0
Unknown
39.5%
11
+0.8%
4
1
Style
Share
Filers
Change
New
Exited
Index-like
1.0%
2
+5.5%
0
0
Systematic-like
7.6%
3
+47.2%
1
0
Concentrated
6.8%
6
-8.0%
3
0
Diversified active
84.5%
27
-21.5%
3
7
Unknown
0.0%
0
—
0
0
Not measured
0.0%
0
—
0
0
Turnover
Share
Filers
Change
New
Exited
Low turnover
75.1%
24
-18.0%
3
4
Medium turnover
1.7%
4
-64.2%
1
2
High turnover
20.1%
8
-4.2%
3
1
Unknown
3.1%
2
-21.8%
0
0
Not measured
0.0%
0
—
0
0
Holding horizon
Share
Filers
Change
New
Exited
Short horizon
6.1%
3
-9.6%
0
0
Medium horizon
5.8%
4
-35.9%
2
4
Long horizon
81.1%
28
-15.5%
4
3
Unknown
6.9%
3
-25.7%
1
0
Not measured
0.0%
0
—
0
0
13F book size
Share
Filers
Change
New
Exited
Under $1B
3.4%
5
-50.6%
1
2
$1B to $10B
27.4%
11
-1.3%
2
3
$10B to $100B
53.8%
10
-27.8%
1
0
$100B or more
15.4%
12
+28.9%
3
2
Not measured
0.0%
0
—
0
0
Client base
Share
Filers
Change
New
Exited
Individuals and high net worth
31.2%
17
-40.4%
2
4
Pooled investment vehicles
7.6%
3
+47.2%
1
0
Pension and profit sharing plans
0.0%
0
—
0
0
Other investment advisers
0.0%
0
—
0
0
Diversified
0.0%
0
—
0
0
Unknown
61.1%
18
-3.9%
4
3
Private funds
Share
Filers
Change
New
Exited
Hedge funds
7.7%
4
+47.6%
2
0
Private equity funds
1.2%
2
-93.9%
0
0
No private funds
30.0%
13
-8.5%
0
4
Real estate funds
0.0%
1
new
1
0
Unknown
61.1%
18
-3.9%
4
3
Location
Share
Filers
Change
New
Exited
United States
98.7%
35
-17.6%
7
7
Outside the US
1.3%
3
-11.3%
0
0
The Sep 30, 2026 filing window is still open, so its
bar shows only the filers that have filed so far.
How the mix is measured
Shares are 13F common shares restated to today's split basis; options and principal amounts are left out.
The change compares only filers with a 13F in both quarters and keeps each filer in its bucket of the later
quarter on both sides; a filer that continues under a new CIK is compared through its successor. Holder type
comes from each filer's current regulatory profile; client base and private funds come from the Form ADV roster
current at each quarter end (rosters from December 2019, so an earlier quarter reads Unknown). Style, turnover, horizon and
book size are measured from each filer's 13F book in the newest measured quarter, and Not measured means none
was. Actively managed books are those measured systematic-like, concentrated or diversified active.
Conviction and Crowding
38 13F filers, quarter ended Jun 30, 2026
Measured across every 13F filer's common-share book once the quarter's filing window closed. Crowding counts
filers with high turnover or that advise private funds on Form ADV.
Conviction holders
1
2.63% of filers hold it in their top 10
Mar 31, 2026: 1
Holders above 5%
0
median weight 0.002%
Mar 31, 2026: 0
Crowding
—
shares outstanding is an issuer-wide count, not one listing's
Private-fund advisers
—
of shares outstanding
Institutional ownership
—
shares outstanding is an issuer-wide count, not one listing's
Top 10 holders
78.8%
of 13F shares, Herfindahl 0.105
Active holders
-17.7%
like-for-like share change of active filers
5% stakes on record
0
0 13D, 0 13G
How long holders have held itvalue-weighted 11.3 quarters
Under 1 year 11.0%1 to 3 years 60.0%3 years or more 29.0%Since coverage start 0.000%
Managers in the top fifth by current three-year FundScore alpha were net
buyers of $0
(0 buying, 0 selling).
Estimated Holder Cost Basis
Quarter ended Jun 30, 2026, on that quarter's share basis
Estimated, never filed: each 13F buy is costed at its quarter's average traded price and each sale keeps
the average cost, so this is what holders paid on average if they traded evenly through each quarter.
Estimated avg cost
$71.74
estimated per share
Quarter-end price
$72.58
implied by 13F values
Estimated gain or loss
+1.2%
price against the estimated cost
Estimated at a loss
0.000%
of costed 13F value
Estimated cost covers 3.84% of the 13F shares; positions
already held when a filer's 13F history starts, or bought in a quarter without a trusted average price, have no estimate.
Quarterly Activity
vs Jun 30, 2026
New
0
Increased
4
Decreased
1
Sold Out
0
Unchanged
1
New and Sold Out count only filers that reported a 13F for both quarters: a first-time filer's book is not a buy, and a fund that has not filed, or withheld its positions under confidential treatment, has not sold.
